Can’t we stop this? - AGI on influx of substandard goods on Ghanaian market

The influx of substandard goods from textiles to pharmaceuticals have been one of the challenges of the business community.

President of the Association of Ghana Industries (AGI), Seth Twum Akwaboah, has wondered why this major problem which keeps rearing its head up in the business community cannot be put to an end.

According to him, importers of these substandard goods do not pay the right duties and taxes and also compete with local producers with unfair prices.

Mr Akwaboah indicated that for Ghana to be prosperous, this menace needs to be curbed.

Speaking at the Ghana Mutual Prosperity Dialogues held in Accra on Thursday, November 2, 2023, the AGI President said “Today, a number of businesses complain about sub-standard goods that are flooding our markets, and sometimes not paying the right duties and taxes, and are competing unfairly with the locally produced ones. Can’t we stop this to create the prosperity we need?”

He also stated that government needs to create an enabling environment for businesses to thrive.

Mr Akwaboah noted that the several layers of regulations were causing more harm than good to businesses because the cost of doing business has gone up astronomically.

He suggested that government rather enforces existing business regulations and ensure that all tax leakages were blocked.

“We expect government to create enabling business environment for businesses to thrive. In creating that conducive environment, we don’t expect to see several layers of regulations that only add to the cost of doing business. What we think is lacking is the enforcement of some of the business regulations to ensure fair based practices,” the AGI President stated.

“For example, we continue to see multiple of taxes in an attempt to shore up domestic revenues. Perhaps, what we need is to enforce compliance on already existing tax policies and possibly block the leakages to revenue mobilization,” he added.

SA/NOQ

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